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Tilt proxy votes show strong shareholder support for sale
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19 May 2021
Forty-six Victorian councils have banded together to underwrite a massive renewable energy off-take deal, signing up to buy 240GWh of wind power from two major Victorian wind farms through a deal with Snowy Hydro-owned retailer Red Energy.
Led by Darebin City Council in Melbourne’s north, the Victorian Energy Collaboration, or VECO, will purchase enough renewable energy to power 45 per cent of the state’s local government electricity demand with renewables, over a period of 9.5 years, starting 1 July, 2021.
The ground-breaking deal, which has been facilitated by Victorian Greenhouse Alliances, is expected to save Councils up to 35 per cent on their electricity bills, based on current costs and depending on each council’s energy needs.
Trans-Tasman renewables developer feels the aftereffects of selling Snowtown 2.
Tilt Renewables’ has continued to feel the aftereffects of its one-off Aussie wind farm sale, posting reduced revenue, earnings and profit for the year ended March 31.
The trans-Tasman renewables
Takeover target Tilt s earnings drop as wind levels fall
12 May, 2021 10:06 PM
3 minutes to read
Tilt Renewables has reported a fall in earnings in its last year as listed company. Photo / Supplied
Tilt Renewables has reported a fall in earnings in its last year as listed company. Photo / Supplied
Takeover target Tilt Renewables annual operating profit fell by 36 per cent in what the company said was a transitional year.
The wind farm specialist sold its 270 megawatt Snowtown 2 Wind Farm, near Adelaide, in the previous year and ramped up operations at Dundonnell, in Western Victoria, and Waipipi in Taranaki in the latest year to March.
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